Government loans - Study guides, Class notes & Summaries

Champions Real Estate Finance graded A+ already passed 2023Loan-to-Value Ratio (LTV) - correct answer The percentage of the lesser of the appraised value or sales price that the lender will lend. ex: If a borrower is approved for an 80% loan, it means that the lender will loan up to 80% of the sales price or appraised value, whichever is lower. Package Mortgage - correct answer Includes both real and personal property ( fixtures and furnishings) Blanket Mortgage - correct answer Covers ...

Most common reason a property fails to sell is - Answer- price Matching human needs with goods or services to meet those needs is the process of - Answer- marketing _____________________ is a key personality trait of a successful agent - Answer- problem solving 3 Ways Sales Agents Add Value to the Buying Process - Answer- Counseling, Negotiating, and Managing the transaction Four P's of marketing real estate - Answer- product, promotion, price and place How can you know your prod...

mortgage Broker - Answer- Functions as a middleman between the borrower and the lender, negotiating, selling or arranging loans to be delivered to large investors Mortgage Banker - Answer- Provide their own funds for the purpose of providing mortgage financing Correspondent Lender - Answer- Smaller in scale then mortgage bankers or brokers, these lenders typically extended loans with their own funds at their own risk Origination - Answer- The process of creating a new mortgage loan U...

Texas Promulgated Contracts-CHAMPIONS STUDY 2022-2023. The elements of a valid contract are, competent parties, consideration, legal subject matter, in writing, and ___________. (a) Default (b) Mutual consent (c) Property condition (d) Recording A(n) __________________ contract is defined as a contract that is binding on the parties, with one or more of the parties having contractual duties that have not yet been performed. (a) Executory (b) Executed (c) Bilatera...

RMLO - ANS Residential Mortgage Loan Originator Riparian Rights - ANS Unrestricted rights granted to owners of land located along the course of a river or stream. Littoral Rights - ANS Unrestricted rights granted to owners whose land borders oceans and large, navigable lakes that have a tide. Fannie Mae (FNMA) 1938 - ANS The Federal National Mortgage Association, which is a congressionally chartered, shareholder-owned company that is the nation's largest supplier of h...

NJ Property/ Casualty Insurance Exam Set with Complete Solutions Why was the commercial Insurance Deregulation Act Created? - ANSWER-To protect the public from the adverse effects of excessive, inadequate, & unfair discriminatory rates & marketing practices Which policies issued must follow the provisions of the Commercial Insurance Deregulation Act? - ANSWER-Commercial policies When must rate amendments & policy forms be filed with the commissioner? - ANSWER-30 days before What losses...

Which of the following is inappropriate? a. The person receiving a deposit makes out the deposit slip. b. The person making out the deposit slip makes the deposit. c. The person sending out the bill records the transaction in the system. d. The person recording transactions reconciles the bank statements. -Correct Answer b. the person making the deposit slip has the ability to alter the deposit. Thus, these are not compatible duties. Often, the person receiving the deposit also makes out ...

conventional loans not apart of government financing programs government financing programs encourage home ownership by making loans affordable. Allow borrowers to use more leverage than a bank would normally allow loan to value ratio banks typically prefer 80% Federal Housing Administration Master01 | November, 2024/2025 | Latest update 1 | P a g e | © copyright 2024/2025 | Grade A+ -insures lenders to make loans with more than 80% LTV (usually up to 96.5%) -puts in limitati...

Internal controls should help prevent goods from being stolen. True or false? Answer: correct answers True. One of the primary functions of internal control systems is to prevent loss, misuse or misappropriation of assets Which of the following is inappropriate? a. The person receiving a deposit makes out the deposit slip. b. The person making out the deposit slip makes the deposit. c. The person sending out the bill records the transaction in the system. d. The person recording transa...

National Topic Tester – Financing Exam Questions and Answers 100% Pass John is buying a house from Ellen for $100,000. National Savings and Loan is going to loan $70,000 to John, Ellen is going to hold a purchase money mortgage in the amount of $10,000, and John will pay the difference in cash. The $10,000 owed to Ellen is most likely to be a: Select one: A. Participation mortgage B. Junior mortgage C. Buy down D. First mortgage - (mortgages/deeds of trust) Ellen, the seller, holds ...